Net worth: US$11.5 billion

Age: 96

Industry: palm oil, shipping, property

The richest man in Malaysia, Robert Kuok owns the Kuok Group that deals in real estate, commodities and hotels – starting with the Shangri-La hotels which he founded Singapore in 1971. The second Shangri-La hotel opened in Hong Kong ten years later, and built by on the newly reclaimed Tsim Sha Tsui East waterfront and known as the Kowloon Shangri-La.

The Malaysian billionaire noew lives in Hong Kong, has married twice and has eight children. His youngest, Kuok Khoon Hua was appointed CEO and vice-chairman of Kerry Properties in June 2019.

Quek Leng Chan

Net worth: US$9.7 billion

Age: 78

Industry: banking, property

Quek who is a qualified barrister-at-law who runs Kuala Lumpur-based conglomerate Hong Leong Group Malaysia as executive chairman. The group has interests in financial services, property, hotels, manufacturing and has stakes in companies such as Guoco Group, Hong Leong Financial and Hong Leong Industries.

While Quek heads the Malaysian operations of Hong Leong Group, his cousin and billionaire Kwek Leng Beng takes charge of their Singapore operations. The Malaysian billionaire’s father was one of three brothers who started a banking group back in the 1920s. Quek inherited part of his father’s fortune to build his own empire.

Ananda Krishnan

Net worth: US$5.9 billion

Age: 81

Industry: telecoms, media, oil-related services

Nicknamed A.K., the Harvard Business School graduate is known for his business acumen as well as his philanthropy. Krishnan supports causes in education, the arts, sports and humanitarian efforts in Malaysia through his company, Usaha Tegas, of which he is the chairman. He is also the founder of Yu Cai Foundation that provides student scholarships and grants to educational institutions.

Though he generally keeps a low public profile, he has been tied to the 1MDB scandal. The former oil trader ranks as Malaysia’s third-richest on the Forbes’ 2020 Malaysia’s 50 Richest Net Worth list despite his Indian telecom firm, Aircel, filing for bankruptcy protection in 2018, after pumping an estimated US$7 billion investment into the company. He owns stakes in Maxis, Astro Malaysia Holdings and Bumi Armada.

Chen Lip Keong 

Net worth: US$5.3 billion

Age: 72

Industry: casinos, property, energy

Malaysia’s casino tycoon started his career as a medical doctor of general practice. Chen is CEO of NagaCorp and won his first casino license from Cambodia in 1994, which gives its Phnom Penh property, NagaWorld casino, a guaranteed monopoly till 2045 and with a license which runs to 2065. NagaCorp is the first Hong Kong-listed casino company. Chen has since built Naga2, a twin tower across from NagaWorld connected by NagaCity Walk, an underground mall. He now lives in Cambodia.

Teh Hong Piow

Net worth: US$4.85 billion

Age: 89

Industry: banking

Singapore-born Teh started his banking career at 20. He quickly rose through the ranks and by age 36 he founded Public Bank, which has grown to a network of around 260 branches, two of which overseas. Teh was once given the Greatest Malaysian Banker of All Time award by the Asia-Pacific Brands Foundation. After decades of chairing Public Bank, he finally retired as non-executive chairman on January 1, 2019. He continues to own almost a quarter of the shares in the business and 44 per cent of insurance company, LPI Capital.

Honourable mentions

Lee Yeow Chor and Lee Yeow Seng

Net worth: US$4.8 billion

Age: 53 and 41 respectively

Industry: palm oil, property

Brothers Lee Yeow Chor and Lee Yeow Seng inherited stakes in IOI Group, a palm oil and property empire built by their father, the late Lee Shin Cheng, who died in June 2019. Lee Yeow Chor is the eldest of six children and studied law at King’s College in London. He currently presides as managing director of IOI Corporation and acts as chairman of Malaysian Palm Oil Council. Lee Yeow Seng was also a law student and takes care of IOI Properties as CEO.

Francis Yeoh and family

  Net worth: US$1.7 billion

Age: 65

Industry: construction, energy, real estate

YTL Corp’s executive chairman Francis Yeoh was conferred an honorary knighthood by Queen Elizabeth last October for improving UK-Malaysian bilateral relations, effectively making him Sir Francis Yeoh. The Malaysian businessman runs YTL Corp – which owns PowerSeraya (Singapore’s second-largest power plant) and the Ritz-Carlton, Kuala Lumpur. The eldest of seven, Yeoh inherited the business from his late father, Yeoh Tiong Lay, who founded the company in 1955.

*Net worth taken from Forbes’ 2020 Malaysia’s 50 Richest Net Worth list as of March, 2020

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